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Fotemogoban Group
In this Group: Awa , Minata , Awa , Bintou
The members of Fotemogoban Group average 46 years of age and five children. They all live in Djalakorodji, a neighborhood in Bamako, and most of them are monogamous women.

They got to know each other through bonds of community. They retail clothing, such as Wax pagnes (colorful African cloth), bazin fabrics, and lightweight fabric, as well as bananas, cement, and peanuts.

In order to build up their stock of products, the members of the group decided to work with Soro Yiriwaso, from which they are seeking their fourth solidarity loan (group loan).

Mrs. Minata is the second woman from the left in the photograph. She's very well-known as a reseller of clothing (Wax pagnes, bazin fabrics, lightweight fabric). She intends to use her loan to buy 20 pieces of Wax pagnes, 15 meters of lightweight fabric, and 18 meters of bazin fabric (rich and medium) in Bamako.

She retails in Djalakorodji and as a traveling saleswoman, to a mixed-gender clientele. With this loan, she intends to turn an average monthly profit of XOF 100'000, to be in part reinvested in her business.

Her goal is to provide for the needs of her family, especially her children, thanks to this relationship with Soro Yiriwaso.
View original language description ↓
Le groupe Fotemogoban est majoritairement composé de femmes monogames. Elles ont en moyenne 46 ans et 5 enfants. Elles habitent toutes à Djalakorodji l’un des quartiers de Bamako et se sont connues à travers des liens de voisinage. Les membres du groupe font le petit commerce d’habits (pagnes wax, basins, et légers), de la banane, du ciment et d’arachide. Dans le but de constituer leurs stocks de vente, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 4ème cycle de prêt solidaire.
Madame Minata (femme assise en 2ème position de la gauche vers la droite sur la photo) a une grande réputation dans la vente des habits (pagnes wax, bazins, et légers). Elle compte utiliser son prêt pour acheter 20 pièces de pagnes wax, 15 mètres de tissus légers et 18mètres de bazins (riches et moyens) à Bamako. La revente se fait en détails à Djalakorodji et en ambulant à une clientèle mixte. Madame Minata espère réaliser avec ce prêt un bénéfice mensuel moyen de 100 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité. Elle a pour objectif de subvenir aux besoins de la famille surtout les enfants dans cette relation avec Soro Yiriwaso.

Additional Information

Important Information

Soro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

Tags

About Mali

  • $1,100
    Average annual income
  • 35
    View loans »
    Mali Loans Fundraising
  • $11,450,100
    Funds lent in using Kiva
  • 475.4
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A portion of Fotemogoban Group's $2,950 loan helped a member to buy 20 pieces of Wax pagnes (colorful African cloth), 15 meters of lightweight fabric, and 18 meters of bazin fabric.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 14, 2014
Listed
Mar 26, 2014
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014